COM - U.S. average gasoline price soars to $3.83/gal highest in nearly a decade

Pump prices in the U.S. are surging at the fastest pace since Hurricane Katrina in 2005, with AAA reporting the national average for a gallon of regular gasoline rising $0.11 to $3.83 on Friday, the highest since September 21, 2012. Gas prices have soared $0.18/gal since Wednesday and $0.29/gal since Russia's invasion of Ukraine eight days ago, meaning the U.S. most likely will soon average $4.00 and reach the record of $4.11 set in 2008; ETF: UGA Nymex April RBOB gasoline futures (HG1:COM) settled +8% at $3.544/gal, after jumping to the highest level since July 2008 during the session; for the week, the front-month gasoline contract skyrocketed 23.3%, the largest weekly net gain since at least 2005. The average pump price in California, always more exposed to surging oil prices than the rest of the country, is the highest in the continental U.S., jumping $0.13/gal to $5.07, making it the

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U.S. average gasoline price soars to $3.83/gal, highest in nearly a decade